Escrow & Title
In Ohio, a 'proforma' title policy commitment for a large commercial transaction is typically:
AA final binding insurance policy
BA proposed draft of the title commitment for review and negotiation before finalizing coverage✓ Correct
CA temporary title policy valid for 30 days
DA government-issued title guarantee
Explanation
A proforma commitment is a proposed title commitment showing what the title company will and will not insure. Parties review and negotiate exceptions and coverage before the final, binding commitment is issued.
Related Ohio Escrow & Title Questions
- What is an Ohio boundary dispute and how can it be resolved?
- In Ohio, a Closing Disclosure (CD) must be provided to the buyer at least:
- In Ohio, which type of deed is most commonly used to convey residential property in a typical arm's-length sale?
- Which of the following is a 'voluntary lien' on Ohio real property?
- In Ohio, an 'abstract of title' is a:
- In Ohio, which party typically selects the title insurance company in a residential sale?
- In Ohio, earnest money deposited in a broker's trust account and later disputed between buyer and seller should be:
- In Ohio, a 'marketable title' is one that:
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →